Janney Montgomery Scott LLC Lowers Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Janney Montgomery Scott LLC cut its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 68.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,774 shares of the semiconductor company’s stock after selling 3,838 shares during the period. Janney Montgomery Scott LLC’s holdings in Onto Innovation were worth $215,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock worth $2,680,000 after buying an additional 225 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Onto Innovation by 75.0% during the first quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company’s stock worth $130,000 after buying an additional 458 shares in the last quarter. LPL Financial LLC boosted its holdings in Onto Innovation by 35.3% during the fourth quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock worth $5,945,000 after buying an additional 9,310 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Onto Innovation by 51.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company’s stock worth $92,000 after buying an additional 185 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after buying an additional 76,233 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONTO. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a “hold” rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reduced their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Benchmark reduced their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

Onto Innovation Stock Down 1.7%

Shares of NYSE ONTO opened at $101.63 on Monday. The firm has a 50-day simple moving average of $101.89 and a 200-day simple moving average of $138.37. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $267.03 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.